The Shiba Inu team announced on Tuesday the launch of a ‘SHIB Owes You’ (SOU) on-chain NFT. The NFTs are tradable, allowing users to transfer, split, or merge them with other digital assets in the marketplace. The announcement claims that SOU is launched to help “impacted users,” but does not specifically mention the details.
It can be assumed that the impacted users could be the ones who lost funds during the $2.4 million Shiba Inu hack last year. The SOU is built to “support impacted users with payouts, donations, and occasional rewards,” read the tweet.
“SOU is live. Introducing SOU (SHIB Owes You), an on-chain NFT built as a good-faith effort to support impacted users with payouts, donations, and occasional rewards. Transparent. Tradable. On-chain. You can transfer it, split it, merge it, or trade it on marketplaces, with payouts, donations, and occasional rewards,” read the Shiba Inu announcement.
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What’s the Buzz For Shiba Inu’s ‘SHIB Owes You’ Launch?
The tweet did not receive the level of engagement that other launches received. It barely has 500 likes, as the NFT market is already a sinking ship. The boat of NFTs mostly sailed past 2022 and 2023 with little to no hype for two years. Even the ones who brought them back in the day are seeing massive losses. Even NFTs launched from the official Shiba Inu handle barely made investors money.
Take, for example, YouTuber Logan Paul’s NFT, which he purchased for $635,000 in 2021. The same is now worth $155 and is only going lower in price each day. Therefore, Shiba Inu’s SOU NFT is now at the wrong time and the wrong place. The hype and buzz for NFTs are at their lowest, with traders mostly focusing on cryptocurrencies only. The launch comes after the SHIB team announced the release of digital stickers for Telegram.
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